Head Office: 200, 110 – 8th Avenue SW Calgary, AB T2P 1B3   Main: 403.536.6446   Fax: 403.536.0758
Field Office: 206, 10605 West Side Drive, Grande Prairie, AB T8V 8E6   Main: 780.833.8389
24-Hour Emergency: 1.877.235.9232

Modern Resources Inc. ("Modern" or the "Company") is a Calgary-based private oil & gas company founded in late 2012. Modern has raised CDN$432 Million in order to execute an acquire and validation strategy, and is currently active in the Deep Basin of Western Alberta. Modern’s major investors are ARC Financial Corp. and Encap Investments L.P.

Modern Resources Inc. (“Modern”) is committed to being a leader in corporate governance practices and procedures that are reflective of our culture of integrity, respect and passion. This commitment will be demonstrated in all aspects of our business and dealings with employees, vendors, landowners, investors and the community at large. Modern is focused on creating a safe work place for our staff, vendors and partners and will operate with the highest standard of care for the environment. Modern will demand the same level of commitment to these values from parties with whom we work and employ.

  • Christopher P. Slubicki, President and CEO
  • Mike Belenkie, VP Engineering
  • Francois Legault, VP Geosciences
  • Derek Mendham, CFO
  • Jason Chadwick, VP Land
  • Brian Boulanger – Chairman
  • John Dielwart
  • Hilary Foulkes
  • Keith MacPhail
  • David B. Miller
  • Christopher P. Slubicki, President and CEO
  • Mark Welsh

With $3.7 billion of capital across the seven ARC Energy Funds, ARC Financial Corp. (“ARC”) is the leading energy focused private equity manager in Canada. ARC was founded in 1989, is a Calgary-based, employee-owned firm with an exclusive focus on the Canadian energy industry. The firm seeks to make equity investments of $25 to $100 million in start-up energy and energy services firms. For more information on ARC visit http://arcfinancial.com/

Since 1988 has raised 17 institutional oil and gas investment funds totaling approximately $18 billion and currently manages capital on behalf of more than 250 U.S. and international investors. EnCap has a proven track record, having successfully invested with approximately 200 upstream and midstream oil & gas companies. For more information visit http://www.encapinvestments.com


Christopher P. Slubicki, President and CEO

Mr. Slubicki has worked in the Canadian oil and gas industry since 1981. Most recently he served as President & CEO of OPTI Canada Inc. from 2009 to 2011. He assumed the CEO position of the financially distressed oilsands company with ~$900 million of market value. The company was successfully sold in late 2011 for $2.1 billion.

Mr. Slubicki was one of four founders of Waterous & Co., a private global oil and gas mergers and acquisitions firm. Waterous was a pioneer and global leader in oil and gas asset and corporate transactions. Founded in Calgary in 1989, the company expanded to offices in 5 countries with 88 staff. Mr. Slubicki completed hundreds of oil and gas transactions over 17 year tenure. Waterous was sold to Bank of Nova Scotia in 2005 to become Scotia Waterous where Mr. Slubicki served as the Vice Chairman.

Prior to Waterous, Mr. Slubicki held operations management and engineering positions within the oil and gas industry including Placer CEGO Petroleum Ltd. and Chevron Canada Resources Limited.

Mr. Slubicki holds a Masters of Business Administration from the University of Calgary, a B.Sc. in Mechanical Engineering from Queen’s University at Kingston, and is a Professional Engineer in Alberta

Mike Belenkie, VP Engineering

Mr. Belenkie served most recently as Vice President of Corporate Development & Reservoir Engineering at Painted Pony Petroleum Ltd. (“PPY”). He was at PPY from 2008 to 2011 and in this time he was involved in all aspects of the company’s leadership, strategic growth and technical development, particularly in the Montney play. PPY grew from approximately $50 million market capitalization to over $900 million at the time of his departure, in spite of a rapidly shrinking price environment. This success was attributable to the consolidation of a large contiguous land base, methodical de-risking, advanced reservoir evaluation and top percentile operational results in the Montney.

Prior to Painted Pony, he served as Montney/Northeast BC Development Team Lead at Talisman Energy Inc. Previously, he held various positions including development, production, exploitation and reservoir engineering. Mr. Belenkie spent 2006-2007 as a management consultant, working with BP Alaska in operations and BG Canada.

Mr. Belenkie graduated with a BSc (Engineering) from the University of Calgary, and is a Professional Engineer in Alberta.

Francois Legault, VP Geosciences

Mr. Legault has eighteen years of broad industry experience, focussed on exploration and development of light oil and natural gas in a multitude of reservoir types, both conventional and unconventional. Most recently he served as Exploration Manager for Central European Petroleum Ltd., leading exploration projects for tight and conventional oil. Previously Mr. Legault served as a consulting geologist at Vermillion Energy Inc., conducting geo-cellular modelling and waterflood optimisation of a mature oil field in the Paris Basin.

From 2000 until 2008 Mr. Legault worked at Talisman Energy Inc. in senior geology roles including Team Lead Foothills Exploration. His responsibilities included providing technical leadership and mentorship to a high-performance team of 11 professionals. In this role he built a new core area in the foothills of northwest Alberta from 0 to 86 mmcf/d, with 428 sections of land and pool sizes ranging from 40 to 250 Bcf.

Prior to Talisman, Mr. Legault evaluated and generated prospects throughout the WCSB with Petrel Robertson Consulting Inc.

Mr. Legault holds an M.Sc. (Geology) from McGill University, 1992, and is a professional geologist in Alberta.

Derek Mendham, CFO

Mr. Mendham has 18 years of diverse experience in the energy industry including finance, capital markets, accounting and business management. Most recently Mr. Mendham held the position of General Manager of Ensign Energy Services, Canadian Directional Drilling division where his responsibilities included operations efficiency, capital management, divisional profitability, management of human capital.

Prior to that he served as VP & CFO of Atlantic Directional Inc. where his responsibilities included strategic planning, enterprise and risk management, joint ventures, operations, sales, accounting and finance. Mr. Mendham assisted in the negotiation and sale of the company to Ensign Energy Services

From 2005 to 2008 served as Principal, Investment Banking for Genuity Capital Markets where he was a founder of the firm’s energy team focused on equity financings and M&A advisory work. Previously, he served as Senior Associate, Investment Banking for Blackmont Capital, Capital Markets Consultant for Keyera and Trimac, and Equity Research Analyst for RBC Capital Markets focused on small to mid-cap domestic E&P companies

Mr. Mendham holds a B.Comm. (Finance) from Queen’s University, 1992, and is a Chartered Accountant and Chartered Financial Analyst

Jason Chadwick, VP Land

Mr. Chadwick has 17 years of oil & gas producer experience in the WCSB. Most recently, he served as Vice President, Land for Mancal Energy Inc. At Mancal, Mr. Chadwick was responsible for all corporate land functions and was an active member of the management team. During his tenure at Mancal, the company experienced significant growth while simultaneously transitioning its production portfolio from gas-weighted to balanced.

Prior to Mancal, Mr. Chadwick was Land Manager at Defiant Resources which was a publically-traded junior from 2005-2008. He joined the Defiant team at inception and assisted in the company’s growth from 80 boe/d to 1500 boe/d prior to its successful sale.

Mr. Chadwick gained other industry experience as a landman with Mobil Oil and Rio Alto Exploration. He is a member of the CAPL and holds a land agent licence in the Province of Alberta. Mr. Chadwick spent 5 years as a sessional instructor in the University of Calgary’s Petroleum Land Management program.

Brian Boulanger – Chairman

Mr. Boulanger is currently Senior Vice President and Director of ARC Financial Corp. where his responsibilities include deal origination, structuring and execution, portfolio monitoring and dispositions.

Mr. Boulanger joined ARC in 1997 and has become a trusted advisor to several portfolio companies. His education includes a Bachelor’s Degree in Business Administration from the Richard Ivey School of Business at the University of Western Ontario and he is a CFA Charterholder. Brian was recognized as one of the Globe and Mail’s “Top 40 Under 40” in Canada in 2009.

John Dielwart

Mr. Dielwart has 36 years of experience in the Canadian Oil and Gas industry including 16 years as President/CEO of ARC Resources Ltd. and ARC Energy Trust (1996 – 2012), and 12 years as an independent reserves evaluator.

John led ARC Resources Ltd. from its inception in July 1996 until his retirement on January 1, 2013 and will remain on ARC’s board. Under John’s leadership, ARC Resources grew its production over nine-fold, to over 94,000 barrels of oil equivalent per day, delivering top decile average annual returns of ~18% per year for 16 years.

Since May 2013, Mr. Dielwart has served as Vice-Chairman and Director of ARC Financial Corp. where he is a member of the Investment and Strategy committees. John is a past Chairman (2002 – 2004) of the Canadian Association of Petroleum Producers.

Mr. Dielwart’s education includes a Bachelor of Science Degree (Distinction) in Civil Engineering from the University of Calgary.

Keith MacPhail

Mr. MacPhail has more than 30 years’ experience in the oil and gas industry and is currently Executive Chairman of Bonavista Energy Corporation. Mr. MacPhail was President and Chief Executive Officer of Bonavista Energy Corporation from 1997 to 2008 and Chairman and Chief Executive Officer from 2008 to 2012.

Prior to joining Bonavista Petroleum Ltd. in 1997, Mr. MacPhail held progressively more responsible positions with Canadian Natural Resources Limited with his final position being Executive Vice President and Chief Operating Officer. Prior thereto, he held the position of Production Manager with Poco Petroleums Ltd.

Mr. MacPhail holds a Bachelor of Science (Honours) degree in Petroleum Engineering from the Montana College of Mineral Science and is a member of the Association of Professional Engineers, Geologists & Geophysicists of Alberta.

Mr. MacPhail is a member of the board of directors of Canadian Natural Resources Limited and Chairman of the board of NuVista Energy Ltd. and is also on a number of other private advisory boards.

Hilary Foulkes

Ms. Foulkes has over 30 years of experience in the oil and gas industry. She is currently Chairman of Tudor, Pickering, Holt & Co. Securities – Canada. Hilary held a number of executive roles at PennWest Exploration between 2008 and 2012, including Executive Vice President and Chief Operating Officer. Prior to PennWest, she was a Managing Director with Scotia Waterous, an investment banking firm, and its predecessor Waterous and Co. (2000 to 2008).

Hilary developed her operations experience through various exploration and development roles at Gulf Canada Resources (1985 to 2000). She is a Member of the Canadian Society of Petroleum Geologists and The Association of Professional Engineers, Geologists and Geophysicists of Alberta. Ms. Foulkes holds a Bachelor of Science Degree (Honours) from the University of Waterloo. She currently sits on the boards of Enerplus Corporation and Parallel Energy Inc.

David B. Miller

Mr. Miller is currently Managing Partner, EnCap Investments L.P. From 1988 to 1996, Mr. Miller served as President of PMC Reserve Acquisition Company, a partnership jointly-owned by EnCap and Pitts Energy Group. Prior to the establishment of EnCap, he served as Co-Chief Executive Officer of MAZE Exploration Inc., a Denver-based oil and gas company he co-founded in 1981. Mr. Miller began his professional career with Republic National Bank of Dallas, ultimately serving as Vice President and Manager of the bank's wholly-owned subsidiary, Republic Energy Finance Corporation.

Mr. Miller is a graduate of Southern Methodist University, having received Bachelors and Masters Degrees in Business Administration in 1972 and 1973, respectively. He serves on the Board of Trustees at Southern Methodist University and also is a member of the Executive Board of the Edwin L. Cox School of Business. Mr. Miller is a recipient of Distinguished Alumnus Awards from both Southern Methodist University and the Cox School.

In 2004, Mr. Miller was appointed to the National Petroleum Council, an advisory body to the Secretary of Energy, and he is a member of the Board of Advisors of the Maguire Energy Institute. Additionally, he is a member of the Independent Petroleum Association of America, the Texas Independent Producers and Royalty Owners Association, the Independent Petroleum Association of Mountain States and the Dallas Wildcat Committee. Mr. Miller currently serves on the board of directors of several EnCap portfolio companies.

Mark Welsh

Mr. Welsh is a Managing Director with EnCap Investments LP and has been with the firm since 2006. During his time at EnCap he has been involved with upstream investments in most of the major producing basins in the United States and Canada. Prior to EnCap, Mark spent four years as a vice president of Adam Corporation, a privately owned investment firm. He started his career with The Blackstone Group LP as a financial analyst.

Mark holds a BBA in Finance from Texas A&M University where he received the Brown-Rudder outstanding graduate award. He currently serves on the board of directors of several EnCap portfolio companies as well as Halcón Resources Corporation (NYSE: HK).